Question

Sustainable competitive advantage means a firm outperforms its peers over a sustained period of time. Such superior performance is noticed by the peer group that attempts to identify the source of the performance and copy it. This concept is called "benchmarking." Which of the following demonstrates a benchmarking process? Multiple Choice Winning the 100-meter and 200-meter races in two Olympics will likely never be repeated. Sogelau Tuvalu switched from the shot put to the 100-meter dash. When Bolt was younger, he trained against other great runners, comparing his training program and performance to theirs. Bolt’s naturally athletic gifts and hard training drove him to be the best. Bolt competed in the 100-meter dash against a group of other runners to see which among them was the fastest.

Answer 1

Answer:

When Bolt was younger, he trained against other great runners, comparing his training program and performance to theirs.

Explanation:

Benchmarking consists in comparing a company's business practices with those of a top performing in the sector.

For example, a social media start up would could engange in benchmarking by comparing its practices to those of industry giants, in order to find out what it can do better according to what the giants do.

In the answer above we have an example of benchmarking, in the field of athletics. Young Bolt compared his running practice to those who were better than him, and he adapted his style in order to be more like them. This is a classical example of benchmarking.